Wintermute CEO: The Public Chain Battle Is a False Proposition, Cryptocurrency Is Losing Its Direction Summary Wintermute CEO Evgeny Gaevoy believes that the competition among public chains, including SOL and ETH, is meaningless because no significant on-chain events are occurring. Stablecoins remain centralized intermediaries, existing blockchains are difficult to scale, and institutional dominance is replacing idealism. Despite the collapse of token design, Gaevoy remains optimistic about the industry, believing that the market will cleanse speculators. Odaily Planet Daily News X platform post by Wintermute CEO Evgeny Gaevoy pointed out that the competition among public chains like SOL and ETH is pointless, as there are currently no truly important on-chain events, and no one is winning. Stablecoins are still essentially centralized intermediaries; existing blockchains, especially perpetual contract exchanges, cannot scale to CME levels due to risk engine bottlenecks; cryptocurrencies like Bitcoin have lost their way in "price rallies," with institutional dominance replacing idealism, and only Vitalik remains true to the original purpose; additionally, token designs (buybacks, lock-ups, airdrops) have completely collapsed. However, he remains optimistic about the industry, believing that the market is shaking off the "Trump pump" frenzy, will cleanse speculative tourists, and leave behind true believers. #Gate1月透明度报告

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